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21 December, 16:20

The exchange rate is:

Select one:

a. a tax imposed on members of a stock exchange.

b. a price for raw materials that are imported.

c. the value of our currency in terms of another currency

d. a term used in shipping to describe how fast a ship can get into and out of port.

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Answers (1)
  1. 21 December, 16:44
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    the correct answer is c. the value of our currency in terms of another currency

    Explanation:

    an exchange rate is the value of a one currency in terms of another nations currency. eg: a US 1 dollar equals Euro 1.2!

    The currency rates are primarily decided by the supply and demand for a currency and these rates are useful in many instances such as international trade and investing.
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